Minerals Technologies Inc. (NYSE:MTX – Get Rating) – Equities research analysts at Seaport Res Ptn increased their FY2022 earnings per share (EPS) estimates for Minerals Technologies in a research note issued on Monday, August 1st. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings of $5.67 per share for the year, up from their previous estimate of $5.64. The consensus estimate for Minerals Technologies’ current full-year earnings is $5.60 per share. Seaport Res Ptn also issued estimates for Minerals Technologies’ Q4 2022 earnings at $1.37 EPS, Q2 2023 earnings at $1.73 EPS, Q3 2023 earnings at $1.67 EPS, Q4 2023 earnings at $1.60 EPS and FY2023 earnings at $6.58 EPS.
Minerals Technologies (NYSE:MTX – Get Rating) last released its earnings results on Thursday, July 28th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. The business had revenue of $577.00 million for the quarter, compared to the consensus estimate of $533.65 million. Minerals Technologies had a return on equity of 11.44% and a net margin of 8.46%. Minerals Technologies’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share.
Minerals Technologies Trading Down 0.6 %
Shares of MTX stock opened at $63.67 on Thursday. The company has a current ratio of 2.29, a quick ratio of 1.56 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2.08 billion, a P/E ratio of 12.39 and a beta of 1.27. The stock has a 50 day simple moving average of $63.04 and a 200 day simple moving average of $65.30. Minerals Technologies has a 1 year low of $57.52 and a 1 year high of $81.36.
Institutional Trading of Minerals Technologies
Hedge funds have recently made changes to their positions in the stock. GW&K Investment Management LLC increased its position in shares of Minerals Technologies by 29.4% in the fourth quarter. GW&K Investment Management LLC now owns 651,258 shares of the basic materials company’s stock valued at $47,640,000 after acquiring an additional 147,840 shares during the period. Boston Trust Walden Corp boosted its stake in Minerals Technologies by 2.4% during the first quarter. Boston Trust Walden Corp now owns 441,270 shares of the basic materials company’s stock worth $29,190,000 after acquiring an additional 10,142 shares in the last quarter. SG Capital Management LLC bought a new stake in Minerals Technologies during the fourth quarter worth about $4,402,000. Acadian Asset Management LLC lifted its stake in shares of Minerals Technologies by 46.8% in the fourth quarter. Acadian Asset Management LLC now owns 6,383 shares of the basic materials company’s stock worth $466,000 after buying an additional 2,036 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Minerals Technologies by 0.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 29,784 shares of the basic materials company’s stock worth $2,179,000 after buying an additional 160 shares in the last quarter. 94.87% of the stock is owned by institutional investors.
Minerals Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 19th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.31%. The ex-dividend date is Thursday, August 18th. Minerals Technologies’s payout ratio is 3.89%.
About Minerals Technologies
Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.
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